Chennai: Yubi, a unified credit platform that powers the discovery, execution, and fulfillment of credit, has joined forces with Indian Bank, one of India’s leading public sector banks, to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs) in India.
This strategic partnership aims to address the financing needs of SMEs and facilitate their growth and development. By leveraging Yubi’s advanced technology and platform, Indian Bank aims to digitally enable and scale its SCF book through vendor and dealer financing, targeting large corporations whose counterparties are SMEs with limited access to credit.
The company has claimed in a statement that dealers and distributors of anchor companies integrated with Yubi will benefit from Indian Bank’s digital supply chain solution.
The partnership is expected to disburse Rs 1500 crore within the first year, alleviating the cash crunch faced by SMEs and facilitating their operations and expansion. Yubi’s platform will provide Indian Bank with full visibility into the supply chain finance funnel, enabling quick sourcing, identifying channel partners, and achieving scalability. Furthermore, Yubi’s flexible on-premises and cloud facilities ensure convenience and adaptability for all clients.
Dealers and distributors of anchor companies integrated with Yubi will benefit from Indian Bank’s digital supply chain solution. This partnership is expected to disburse Rs 1500 Crore within the first year, alleviating the cash crunch faced by SMEs and facilitating their operations and expansion. Yubi’s platform will provide Indian Bank with full visibility into the supply chain finance funnel, enabling quick sourcing, identifying channel partners, and achieving scalability. Furthermore, Yubi’s flexible on-premises and cloud facilities ensure convenience and adaptability for all clients.
Gaurav Kumar, Founder and CEO, of Yubi, stated, “We are thrilled to scale our partnerships and establish ties with public sector banks for supply chain financing (SCF). Our partnership with Indian Bank marks a significant milestone in our journey. Dealers and suppliers of large corporates, primarily from the MSME segment, are expected to benefit significantly from this development. We will provide them easy access to working capital finance at favorable terms and pricing, ultimately boosting their business growth. With Yubi, we aim to penetrate the SME market, drive digital transformation, and empower SMEs with access to much-needed credit. Together, we aim to create a positive impact on the growth and development of businesses in India.”
